Why the Euro is kept too stong and is not at par with the U.S. $. Is it only a question of pride, with its immense prejudice in human terms ? By the way, just read this:
Roubini takes on the ECB | MacroScope
It was fun to watch. Nouriel Roubini, NYU economist and crisis personality, was one of just five carefully selected individuals at a large gathering in the International Monetary Fund HQ1 building’s towering atrium who actually got to ask questions of the policymakers on stage.
Roubini was characteristically biting in his critique of conventional orthodoxy, singling out the European Central Bank for not having done enough to stem the euro zone’s two-year financial crisis. He challenged the notion that the ECB is powerless to boost growth further, suggesting — to the clear discomfort of some policymakers in the room — that measures to weaken the currency could provide a badly-needed boost to exports …
Roubini was not alone in his critique either, with the ECB coming under pressure from the IMF itself to lower rates further.
ECB Vice President Vítor Constâncio responded by stressing the institution’s price stability mandate as well as the difficulties of synchronizing policy for a group of nations growing at different speeds..
Bank of France Governor Christian Noyer, who was hosting and moderating the event, had spoken about that very same subject earlier during the panel discussion. Like Constâncio, he argued markets should not expect central banks to shoulder too great a burden..
- Job Gap | Europe’s army of ‘underemployed’ nearly 25 million plus 9 million underemployed (jobmarketmonitor.com)
- UK | Black graduates hardly hit by jobs crisis (jobmarketmonitor.com)